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Henri Pescarolo still mulling over keeping a team

Henri Pescarolo settles into his car at a race in Watkins Glen in 1975. Pescarolo is still considering his options as a team owner. Photo by LAT PHOTOGRAPHIC

Sportscar legend Henri Pescarolo’s hasn’t ruled out continuing as a team owner after his company went into liquidation yesterday.

The organization, known as Pescarolo Team in its final incarnation, was liquidated by a French court after a six-month period during which it was protected under law from its creditors in a procedure akin to Chapter 11. It was unable to present a credible survival plan to the commercial court in the city of Le Mans at the end of that period at the beginning of this week.

Pescarolo, whose team was the most successful privateer at Le Mans for much of the 2000s as Pescarolo Sport, said, “It is not the right time to find new sponsors or investors. I had no real solution to present to the court.

“This means that Pescarolo Team doesn’t exist any more as a company, but if I want to, I can continue. I still own the workshops and all the mechanics are available.”

Pescarolo explained that his team could work with another entrant at this year’s Le Mans 24 Hours in June.

“I am talking to people involved in two projects for Le Mans who are looking for someone to run their car,” he said. “It would not be under my name, but I would be involved and they would use my mechanics and workshop.”

Pescarolo hasn’t ruled out re-starting a team using his own name for 2014, but he said that it would depend on the economic situation and whether he believes the new LMP1 rulebook offers privateers a chance to compete with the factories.

Pescarolo, 70, said that he would spend some time contemplating his future over the coming weeks.

“I haven’t made any decisions,” he said. “I have to decide if I want to continue in racing or go fishing instead.”

Pescarolo blamed the failure of his team on the breakdown of a deal with the Luxury Racing Ferrari squad, which was to provided key funding for the development of a new car for 2012 based on the Aston Martin AMR-One monocoque. The Judd-engined car made its only appearance at Le Mans last year before Pescarolo had to withdraw from the remainder of the FIA World Endurance Championship through lack of finance.

The team started as Pescarolo Sport in 2000 and finished second at the 24 Hours in 2005 and ‘06. It was subsequently purchased by the Sora composites group and went into administration in 2010.

The team restarted after key assets (including two cars) were bought by two benefactors, including OAK Racing boss Jacques Nicolet, and loaned back to Pescarolo. It won the 2011 Le Mans Series drivers’ title with Emmanuel Collard and Julien Jousse as Pescarolo Team.